BMW 2011 Annual Report Download - page 129

129 GROUP FINANCIAL STATEMENTS
in € million 31. 12. 2011 31. 12. 2010
Guarantees 16 13
Performance guarantees 23 11
Other 99 66
Contingent liabilities 138 90
in € million 31. 12. 2011 31. 12. 2010
Nominal total of future minimum lease payments
due within one year 297 205
due between one and five years 704 609
due later than five years 663 589
Other financial obligations 1,664 1,403
BMW Group
Notes to the Group Financial Statements
Other Disclosures
41
Contingent liabilities and other financial commitments
Contingent liabilities
No provisions were recognised for the following contingent liabilities (stated at their nominal amount), since an
outflow of resources is not considered to be probable:
Contingent liabilities relate entirely to non-group entities.
The usual commercial guarantees have been given in re-
lation to the sale of Rover Cars and Land Rover activities.
Other financial obligations
In addition to liabilities, provisions and contingent
liabilities, the BMW Group also has other financial com-
mitments, primarily under lease contracts for land,
buildings, plant and machinery, tools, office and other
facilities. The leases run for periods of one to 47 years
and in some cases contain extension and / or purchase
options. In 2011 an amount of € 208 million (2010:
€ 200
million) was recognised as an expense in conjunc-
tion with operating leases.
All of these amounts relate
to minimum lease payments.
The total of future minimum lease payments under non-
cancellable and other operating leases can be analysed
by maturity as follows:
Other financial obligations include € 10 million (2010:
€ 4 million) in respect of non-consolidated subsidiaries
and, as in the previous year, € 1 million for back-to-back
operating leases.
Purchase commitments amounted to € 1,654 million
(2010: € 1,193 million) for property, plant and equipment
and to € 186 million (2010: € – million) for intan gible
assets.